The verdict in three sentences
An agency managing 650 rental units in Toronto across spreadsheets, a bank portal and e-Transfer notifications loses track of part of the rent and takes weeks to pay owners. Custom software with leases, receipts, automated reconciliation of pre-authorized debits and Interac e-Transfers, owner payouts and photo inspections costs 60,000 to 120,000 CAD in 2026. Off-the-shelf tools such as Yardi Breeze or Buildium charge 2 to 4 CAD per unit per month, so custom only wins when your workflows are specific or your portfolio is growing fast.
What the software includes and what it costs
| Module (2026 estimate) | Price CAD excl. HST | Timeline |
|---|---|---|
| Properties, units, owners, tenants, leases (Ontario Standard Lease) | 15,000 to 27,000 | 4 weeks |
| Rent notices and automatic PDF receipts (SMS, email) | 8,000 to 15,000 | 2 weeks |
| PAD and Interac e-Transfer collection with automatic reconciliation | 12,000 to 25,000 | 3 weeks |
| Cheque and cash entry with receipts and daily checks | 4,000 to 8,000 | 1 week |
| Owner payouts, statements, management fees, T5 data | 10,000 to 20,000 | 3 weeks |
| Mobile photo move-in and move-out inspections, tenant signature | 6,000 to 15,000 | 2 weeks |
| Arrears dashboard and staged reminders (N4 notice preparation) | 5,000 to 10,000 | 1 to 2 weeks |
| Total | 60,000 to 120,000 | 4 to 5 months |
Running costs stay modest: hosting 150 to 400 CAD a month, SMS at about 0.01 to 0.02 CAD each, and payment processor fees (PAD around 0.30 to 1 CAD per transaction).
Custom, off-the-shelf SaaS or spreadsheets: the comparison
| Criterion | Spreadsheets | Yardi Breeze, Buildium | Custom build |
|---|---|---|---|
| 3-year cost for 650 units | No licence, 1 to 2 staff tied up | 47,000 to 94,000 CAD (2 to 4 CAD per unit per month) | 60,000 to 120,000 CAD + hosting |
| Automated payment reconciliation | Manual | Yes, through their processor | Yes, with your bank and processor |
| Owner portal | No | Yes, standard | Yes, tailored |
| Specific workflows (mixed portfolios, commercial units) | Flexible but error-prone | Limited | Fully adapted |
| Cost as the portfolio grows | Staff hours grow | Grows per unit | Mostly flat |
| Data ownership | Yes | With the vendor | Yes, full export |
At 650 units, a SaaS is often the cheaper choice. At 1,500 units or more, or with mixed residential and commercial portfolios, the per-unit fee crosses the custom budget within 3 years.
Mini case study
Ryan, owner of a letting agency in Toronto, manages 650 units at an average rent of 2,600 CAD, 1.69 million CAD of monthly rent. His rate of arrears and unrecovered late payments sits around 9%. With automatic rent notices, PAD enrolment and reminders at day 3 and 10, he brings it down to 3%, 6 points recovered. On an 8% management fee, the agency earns about 8,100 CAD more per month, and owners are paid faster. The 95,000 CAD software pays back in under 12 months on fees alone, and freeing half an accountant (about 3,500 CAD a month) brings it to about 8 months.
FAQ
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Are e-Transfers reconciled automatically?
Yes, through a bank or processor API and a unique reference per lease. The payment shows on the receipt within minutes, with no manual matching.
Can tenants still pay by cheque?
Yes, staff record the cheque, the tenant gets a numbered receipt, and deposits are checked daily. Mismatches there often account for 2 to 3% of losses.
How much does migrating 650 existing leases cost?
Plan 4,000 to 10,000 CAD depending on file quality. Import runs from Excel, with tenant balance checks.
Do owners get their own portal?
Yes, an owner space shows rent collected, payouts and inspections. The module adds 6,000 to 12,000 CAD to the budget.
How quickly can we go live?
The full project takes 4 to 5 months. A first version with leases, receipts and payment collection can run in 8 to 10 weeks.
Let's scope your project. We scope your property management software (unit count, payment methods, indicative budget of 60,000 to 120,000 CAD, 4 to 5 month timeline). Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
